What is ‘INR‘?
INR in forex refers to the Indian Rupee, the official currency of India. It is represented by the currency code INR and is widely traded in the foreign exchange market. The value of INR in forex is determined by various factors such as interest rates, inflation, economic performance, and market sentiment.
Traders and investors speculate on the movement of INR against other major currencies to make profits. The INR exchange rate is constantly changing, influenced by both domestic and international factors.
Example of ‘INR ‘
In case the USD/INR exchange rate is 75.00, it means that 1 US Dollar is equivalent to 75 Indian Rupees. The exchange rate of INR can fluctuate based on various factors including economic indicators, political stability, and market sentiment.
Traders and investors monitor the INR exchange rate to make informed decisions and capitalize on currency fluctuations.